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Which concept does Adam smith use to describe the amount of money commonly paid for any comodity?
Market price
What is Commodity-backed money?
Commodity-backed money is just what it sounds like: it's a currency where every unit of money--dollars, say--is backed by a stated amount of a commodity held in reserve by the government.
What is Concept of money and measures of money supply?
Money simply exists as a bartering system. A monetary value is placed on a commodity or service and is obtained by paying the correct amount of money. The term "money supply" simply refers to the amount of money, or assets, available in any economic system.
Why do stocks rise when the dollar falls and what is the correlation?
dollar value has decreased but the commodity value is the same. The same amount of dollar will not be able to purchase the commodity at earlier prices so the price increases in the commodity market
What is the law of decreasing opportunity cost?
To produce an additional unit of a commodity a nation has to forego lesser and lesser amount of other commodity is known as decreasing opportunity cost.
What concepts does Adam smith use to describe the amount of money commonly paid for any commodity?
Market price
Which concept does Adam smith use to describe the amount of money commonly paid for any comodity?
Market price
How would you describe "infinite"?
Infinity is an abstract concept used to describe something that is endless or boundless.
What is Commodity-backed money?
Commodity-backed money is just what it sounds like: it's a currency where every unit of money--dollars, say--is backed by a stated amount of a commodity held in reserve by the government.
What is Commodity backed money?
Commodity-backed money is just what it sounds like: it's a currency where every unit of money--dollars, say--is backed by a stated amount of a commodity held in reserve by the government.
What is Concept of money and measures of money supply?
Money simply exists as a bartering system. A monetary value is placed on a commodity or service and is obtained by paying the correct amount of money. The term "money supply" simply refers to the amount of money, or assets, available in any economic system.
Why do stocks rise when the dollar falls and what is the correlation?
dollar value has decreased but the commodity value is the same. The same amount of dollar will not be able to purchase the commodity at earlier prices so the price increases in the commodity market
Commodity that a person had to own a certain amount of in order to be eligible to vote?
Land :)
What is the law of decreasing opportunity cost?
To produce an additional unit of a commodity a nation has to forego lesser and lesser amount of other commodity is known as decreasing opportunity cost.
Commodity that a person had to own a certain amount of in order to be eligable to vote?
land :D
Is demanded abstract noun?
Yes, the noun 'demand' is an abstractnoun; an urgent requirement or request; the amount of a commodity that consumers are willing and able to purchase; a word for a concept.The word 'demand' is also a verb: demand, demands, demanding, demanded
What is the law of decreasing opportunity cost theory?
To produce an additional unit of a commodity a nation has to forego lesser and lesser amount of other commodity is known as decreasing opportunity cost.
